Relocation Advance Sample Clauses
A Relocation Advance clause provides for the payment of funds to an employee or contractor in advance to cover expenses associated with relocating for work. Typically, this clause outlines the amount to be advanced, the types of expenses it may be used for—such as moving costs, temporary housing, or travel—and the conditions for repayment if the individual does not complete the relocation or remain employed for a specified period. Its core function is to facilitate a smooth transition for personnel required to move for their job, while also protecting the employer from financial loss if the relocation is not completed as agreed.
POPULAR SAMPLE Copied 1 times
Relocation Advance. (A) Prior to the Separation Date you had agreed with the Company to relocate your home to the greater Billerica area. In conjunction with this agreement and pursuant to your request, on January 7, 2016 the Company advanced you the sum of One Hundred Twenty-Seven Thousand Five Hundred four and 90/100 Dollars ($127,504.90) to defray reimbursable expenses related to the relocation of your home to the Billerica area (the “Relocation Advance”). You have recently advised us that you have determined that you are unable to relocate your home to the Billerica area for the foreseeable future. Consequently, it is necessary for you to immediately repay to the Company the full amount of the Relocation Advance. This repayment may be in the form of (i) a valid check payable to the Company and delivered to the Company’s Senior Vice President Human Resources on or before the Separation Date; or (ii) by offset against the Severance Benefits as provided in Paragraph 4(b) below. In the event that your check delivered in accordance with clause (i) cannot be cashed or is returned for insufficient funds, then the repayment by offset pursuant to clause (ii) shall apply.
(B) Related to the repayment of the Relocation Advance, to the extent not already submitted, you must submit expense reports, prepared in conformity with the Company’s policies, documenting all travel, lodging and meal expenses incurred by you while traveling to the Company’s Billerica headquarters since the above date of the Relocation Advance. The Company will treat all such proper expenses as Accrued Rights in accordance with paragraph 2 above.
Relocation Advance. We understand you will be relocating to the San Francisco Bay Area. In connection with that relocation you will receive a relocation advance payment in the amount of one-hundred fifty thousand dollars ($150,000), subject to standard payroll deductions and withholdings, payable within thirty (30) days of your start date (the “Relocation Advance”). The Relocation Advance will be considered earned only if you relocate to the San Francisco Bay Area on or before December 31, 2019 and you successfully complete one (1) year of continuous employment with the Company. You may use the Relocation Advance to pay for relocation expenses or for any other purpose. If within your first year of employment with the Company: (a) you resign your employment, or (b) the Company terminates your employment for Cause (as defined above), then you agree to pay back the entire amount of the Relocation Advance within ten (10) days after your employment termination date.
Relocation Advance. The Company will pay Employee a lump sum payment of Seventy-Five Thousand Dollars and No Cents ($75,000.00) to be paid no later than September 30, 2015, for the purpose of relocating Employee’s residence from Baltimore, Maryland to Los Angeles County, California. Employee will not earn this amount unless Employee remains a full-time employee with the Company through at least the second-year anniversary of Employee’s start date in California. In the event Employee resigns (other than for Good Reason) or the Company terminates Employee’s employment for Cause prior to the first-year anniversary of Employee’s start date in California, Employee will immediately repay the entire relocation advance (i.e., $75,000.00) to the Company. In the event Employee resigns (other than for Good Reason) or the Company terminates Employee’s employment for Cause after the first-year anniversary but prior to the second-year anniversary of Employee’s start date in California, Employee will immediately repay one-half of the relocation advance (i.e., $37,500.00) to the Company. Notwithstanding the foregoing, in the event of termination of Employee’s employment without Cause, or Employee’s death, the foregoing amount shall be considered earned in full and no portion thereof shall be repaid to the Company.
Relocation Advance. We understand you will be relocating to the San Francisco Bay Area. In connection with that relo0ation you will receive a relocation advance payment in the amount of $75,000, subject to standard payroll deductions and withholdings, payable within thirty (30) days after your employment Start Date (the “Relocation Advance”). The Relocation Advance will be considered earned only if you relocate to the San Francisco Bay Area on or before December 31, 2018, and (i) 50% of the Relocation Advance will be considered earned if you successfully complete one year of continuous employment with the Company, and (ii) 50% of the Relocation Advance will be considered earned if you successfully complete two (2) years of continuous employment with the Company. You may use the Relocation Advance to pay for relocation expenses or for any other purpose. If within your first year of employment with the Company: (a) you resign your employment other than for Good Reason, or (b) the Company terminates your employment for Cause (as defined above), then you agree to pay back the entire amount of the Relocation Advance within ten (10) days after your employment termination date.
Relocation Advance. In addition to reimbursement of relocation ------------------ expenses in accordance with Section 2(b) above, the Company shall advance to Employee the sum of Twenty Thousand Dollars ($20,000) upon Employee's closing on the purchase of a principal residence located in the Atlanta, Georgia metropolitan area, provided, however, that Employee shall not have previously -------- ------- closed on the sale of her principal residence in Dallas, Texas (the "Swing Loan"). Employee agrees that the Swing Loan shall be repaid in full to the Company upon the closing of the sale of her principal residence in Dallas, Texas.